Phillips 66 Archives - Page 5 of 5

Phillips 66 to Expand Sweeny Hub Fractionation Capacity by 300,000BPD

June 13, 2018

From Business Wire Phillips 66 (NYSE: PSX), a diversified energy manufacturing and logistics company, today announced it is proceeding with an expansion of the company’s Sweeny Hub. This project includes the construction of two 150,000 barrel-per-day (BPD) natural gas liquids (NGL) fractionators in Old Ocean, Texas, additional NGL storage capacity, and associated pipeline infrastructure. The project is expected to cost

Phillips 66 Touts $3.5 Billion Share Buyback as Earnings Stay Flat

April 30, 2018

From the Houston Chronicle Phillips 66 executives on Friday touted the company’s $3.5 billion share buyback in the first quarter, a transaction that came after the sweeping U.S. tax overhaul padded its earnings. The Houston refiner, chemical maker and pipeline operator repurchased 7 percent of its outstanding shares in a single transaction – a rare feat in the U.S. oil

Phillips 66 Announces CapEx Budget for 2018

December 11, 2017

Phillips 66 (ticker: PSX) recently announced its 2018 capital budget of $2.3 billion, which includes $1.4 billion of growth capital and $0.9 billion of sustaining capital. In midstream, the company plans to invest $1.2 billion, including $1 billion of growth capital in its natural gas liquids and transportation businesses. Phillips 66 said that the Beaumont Terminal is still undergoing expansion

Freeport Up and Running: Phillips 66 Ships First LPG Cargo Abroad

December 19, 2016

In another little milestone heralding the acceleration of U.S. energy exports, Phillips 66 (NYSE: PSX) said that Friday it loaded its first contracted LPG cargo on the Commander, a very large gas carrier (VLGC) that departed the Freeport, Texas, terminal on Dec. 16. The company said that the Freeport LPG Export Terminal is now fully operational and has the ability to

Warren Buffett Continues Accumulating Oilfield Stocks

August 29, 2016

Phillips 66 is Buffett’s 6th Largest Holding – 79 million shares Last year, Warren Buffett made his first purchase of Phillips 66 (ticker: PSX) stock amid the depletion in oil prices and the consequent depletion of oilfield service stocks. Oil refiner Phillips 66 now represents a major holding for Berkshire Hathaway (ticker: BRK), the sixth-largest holding in the company portfolio.

Warren Buffett Stockpiles More Shares of Phillips 66

January 15, 2016

Some analysts say U.S. refiners won’t be hurt by exports Don’t count Warren Buffett as a participant in the energy market selloff – the legendary investor has purchased nearly $5 billion of Phillips 66 (ticker: PSX) stock since August 2015. Berkshire Hathaway (ticker: BRK), a multinational holding company chaired by Buffett, now owns 13% of the refiner and has a

Berkshire Bolts on Another 3.5 Million Shares of Phillips 66

September 10, 2015

Warren Buffet looks to Phillips 66 Just eight days after the initial news that Warren Buffet’s Berkshire Hathaway Inc. (ticker: BRK.A) had invested $4.5 billion in Phillips 66, Buffet’s firm decided to purchase an additional 3.5 million shares of the company, bringing its total share in PSX to 11.4%. Berkshire’s stake in the company is now worth $4.96 billion, based

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